Airline stocks have been soaring following a steep decline in crude oil prices and sustained passenger traffic. Analysts have particularly turned bullish on the stocks of InterGlobe Aviation and SpiceJet. On December 20, shares of InterGlobe Aviation (IndiGo) hit a record high of Rs 3,009 on the BSE, having surged 43.24 per cent year-to-date (YTD).
National carrier Air India became part of the 27-member global airlines grouping Star Alliance, as budget airline AirAsia India launched operations and Tata-SIA joint venture carrier Vistara received the flying permit and announced its intentions to start operations from January 9.
The recent report in the New York Times that China had brought India's financial capital - Mumbai - to a halt by hacking the electricity supply grid has not come as a surprise to the CTOs (chief technology officers) and cyber security experts. Indian companies, including critical infrastructure providers such as power grids, ports and radar systems, lack the IT infrastructure to prevent hacking from hostile state actors like China and North Korea, warn security experts. Recently, the United States government warned of yet another breach of critical systems tied to Microsoft Exchange email systems that the company has blamed on China. The breach has impacted thousands of organisations in the US and its impact on India is still unknown.
Lufthansa has been Air India's mentor, helping and guiding it complete all formalities for joining the alliance.
The cash-strapped airline, which was grounded in April 2019, owes more than Rs 8,000 crore to banks, with those from the public sector having significant exposure.
VRL investors have punished the stock for his move, but Sankeshwar is defiant.
Chief executive Giorgio de Roni explains to Business Standard the merit of GoAir's cautious approach.
The government is considering setting up air freight stations to enable direct movement of vaccines from pharmaceutical factories to the aircraft.
Thai AirAsia operates a daily flight between the Indian and Thai capitals, besides a weekly flight between Kolkata and Bangkok.
Hundreds of pilots are staring at a long wait to get the job of their dreams after completing the course, the cost of which runs to Rs 1 crore.
If that happens, Jet Airways will be the first bankrupt airline which will be revived under the Insolvency process.
Though the Mumbai and Delhi airports still rule the domestic aviation market, the share of the two in overall traffic is falling. In 2006-07, the two airports collectively handled 40.6 per cent of all domestic passengers; in 2012-13, their share fell to 37 per cent.
The proposal was cleared by the Foreign Investment Promotion Board, Finance Ministry said in a statement.
'This kind of a last minute order creates immense problems for airlines.'
Janata Party chief Subramanian Swamy on Thursday sought suspension of the new bilateral air services agreement between India and Abu Dhabi, saying prima facie it appeared to be linked with Jet-Etihad deal.
Rono J Dutta, former chief of the world's biggest carrier United Airlines, has taken over as president of Air Sahara in place of Uttam Kumar Bose.
The airline is in the process of getting the final nods from DGCA and is planning to operate six flights in Phase-I.
Captain Sharan and Flight Engineer Anil Jaggia both confirm that the hijackers seemed to know a lot about flying an aircraft. Without help from the ISI or the Pakistan army, it was impossible, points out Utkarsh Mishra.
With Air India's July 31 deadline to join Star Alliance approaching, senior officials of the global umbrella body of airline and those from the national carrier would soon meet Indian government officials to discuss the progress made in this direction.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
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As per the FIPB agenda, the proposal will be taken up on October 18.
Ace investor Rakesh Jhunjhunwala on Thursday said real estate developers are afflicted with very low return on capital as compared to bluechip stocks. Jhunjhunwala, who runs RARE Enterprises and is set to be a major shareholder in an upcoming airliner, said only the affordable housing developers can look at listing because of the volumes which they can deliver. It can be noted that very few developers like Macrotech Developers formerly Lodha, and DLF are listed on the bourses. Jhunjhunwala cited the case of DLF, saying the stock price plummeted to Rs 80 from Rs 1,300 per piece to illustrate the risks associated.
Richard Branson-promoted Virgin Atlantic Airways is interested in investing in the Indian civil aviation sector once the Union government
After the August 10 deadline, South American conglomerate Synergy Group Corp reportedly evinced interest in the airline, forcing the RP to seek lenders' nod to extend the deadline to August 31. The Synergy Group owns a majority in Colombian carrier Avianca Holdings, which has a codeshare partnership with the state-run Air India.
Ninety years later, BA counts the country as its second-biggest overseas market after the US.
A right-wing group on Thursday vandalised the office of Pakistan International Airlines in New Delhi prompting Islamabad to take up the issue with the ministry of external affairs.
The Wadia Group-promoted budget carrier Go Airlines (India), or GoAir, is gearing up to launch international operations by the end of this financial year or early the next.
Tata Neu, the super app from the Tata group, has been downloaded by over 7 million users within seven weeks of its launch. And, the company wants to ramp this up to 150 million users in the next two years, said senior executives of Tata Digital in an internal magazine of the Tata group. According to data from App Annie, a mobile app tracking platform, the Tata Neu app has been downloaded by over 11 million users.
IC 814: The Kandahar Hijack begins by asking why the hijack lasted seven days and ends in wondering if the good guys fought the bad ones hard enough, observes Sukanya Verma.
Approval was held up due to CBI investigation into international flying permit of Tata group-owned AirAsia India.
A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a USD 1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy.
Airlines have opposed the rules that make it compulsory for them to pay compensation to passengers in case a flight is delayed by more than four hours
Govt to play enabler not handler, India never had more decisive government: PM Modi Prime Minister Narendra Modi on Monday cited his dispensation's push for wide-ranging reforms, including the privatisation of Air India, to assert that the country never had a more "decisive government". Launching the Indian Space Association (ISpA), an industry body aspiring to be the voice of the country's space sector, Modi noted that fields like mining, coal, defence and space have been opened to private players, and said his government's clear policy about public sector enterprises is to open those to private industry where its presence is not required. While opening a host of sectors, the government has built a regulatory environment in which priority has been given to national interest as well as the interests of different stakeholders, he said.
Apart from Air India, the implementation of the airport hub project would involve the airport authorities, other Star Alliance partner airlines which operate from the two airports and ground handling agencies, among others, to make it easier for smooth transfer of passengers from one flight to another.
Together with Jet Airways we will have 61 flights to Amsterdam and Paris during the winter season. That also makes us the second largest airline group after Lufthansa, which has 67 weekly flights, and we are catching up to become the first, says KLM CEO Pieter Elbers.
SpiceJet has decreased its domestic services by 31 per cent to 2,995 weekly flights in the upcoming winter schedule as compared to 4,316 weekly flights that it got approved for the winter schedule of 2019, the aviation regulator DGCA said on Thursday. Meanwhile, Vistara, another private carrier, has increased its domestic services by 22 per cent to 1,675 weekly flights as compared to 1,376 weekly flights for 2019 winter schedule, the regulator added. The winter schedule begins on October 31 of a year and ends on March 26 next year.
According to a calculation by the government, India's airlines currently have 633 aircraft of which they may operate only 200.
Jet Airways, IndiGo and GoAir achieved operating profits of Rs 122.6 crore (Rs 1.22 billion), Rs 795.8 crore (Rs 7.95 billion) and Rs 85.1 crore (Rs 851 million) respectively during the same period, Minister of State for Civil Aviation K C Venugopal said in reply to a question.
